Tesla shares fall, Gold prices reach highest level since June as Biden-Xi meet [Video]

Eliman Dambell Sayvio AI

Tesla shares fall, as Musk threatens to sell more stock

Shares in Tesla were lower to start the week, and sees the company now in the midst of three consecutive bearish sessions.

Monday’s decline came as tweets from Founder, and CEO Elon Musk suggested that he could be set to sell even more shares of the company.

This came after Musk had replied to U.S. Senator Bernie Sanders who tweeted that, "We must demand that the extremely wealthy pay their fair share. Period".

To which Musk replied, “I keep forgetting that you're still alive”, and went on to add that, “Want me to sell more stock, Bernie? Just say the word”.

$TSLA was down by as much as 5% in the session, trading at intraday low of $985.18, its lowest since October 25th.

Gold prices reach highest level since June, as Biden-Xi meet

Gold prices climbed to their highest level since June, as markets anticipated Monday’s virtual summit between the world’s two largest economies.

The leaders of China and the United States will hold a virtual summit Monday evening, with issues such as the current disruption within the global supply chain on the agenda.

XAUUSD hit an intraday high of $1,870, which is its highest level since June 13th, where prices were trading north of $1,874.

Regarding the summit, a senior member of the Biden Administration stated that, “We want to make clear our intentions and our priorities to avoid misunderstandings. The president will also make clear that we want to build common sense guardrails to avoid miscalculation or misunderstanding. That’s how you sustain responsible competition”.

The benchmark S&P 500 was also lower on Monday, as markets remained cautious prior to the summit.

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Author

Eliman Dambell

Sayvio AI

With over a decade in financial markets, Eliman brings an experienced and diversified point of view to market analysis. He covers current and historical macro trends to give insights on Metals, FX, Stocks, and Crypto.

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